HeroNode ICO Review

HeroNode is a next generation platform for decentralized fog computing that wants to bring the thing to a whole new level.

How it works:

HeroNode provides a unified API interface for all public blockchains that support smart contracts, like ETH, QTUM and IPFS. It supports cross blockchain operation and blockchain synchronization, taking data from different blockchains.

The platform does not require a centralized server, no domain name and no database, as all the data is safely stored on blockchain. This is a step forward compared with cloud computing, as data leaks are a lot less likely. Fog computing also transfers the control from the hands of the company to the users, and allows the system to operate even if the company that runs it goes bankrupt.

HeroNode can serve as basis for development of dapps, simplifying the process and therefore increasing the number of possibilities for developers. Hero Mobile, that is compatible with HeroNode, allows to perform multiple terminal operations for iOS, Android and the Web while editing one code.

Innovation:

Even though fog computing is already a popular technology, HeroNode manages to improve on it. It also has Hero Mobile service, that makes it easier to develop dapps, increasing the market possibilities.

Innovation score: Medium

Token value:

HNC is a utility token of HeroNode platform. It is used to make payments to nodes and purchase dapps on the marketplace. Naturally, the volume of transactions is closely tied to the price of the token. ICO participants will benefit from their investment, if the platform succeeds in acquiring big customer base.

Token value score: Medium

White paper:

The white paper HeroNode provides gives a brief outline of what fog computing is and how it is implemented in the project. The functioning of the platform is explained very thoroughly, as well as Hero Mobile framework. It also gives reasons for investors to contribute to the project.

It’s a shame HeroNode doesn’t provide a business plan, but since a fog computing platform can function with the company bankrupt, this is not a very grave drawback.

White paper score: Medium

Roadmap:

The company will expand the team in March 2018. The official release of the network is scheduled on April 2018. The first dapp is expected to be released in June 2018. Since October 2018 the company expects to launch at least one dapp every two months. By the end of 2018 HeroNode will release SDK for iOS, Android, and Web dapps.

Roadmap score: Medium

Business model:

The business model is not described in the white paper, and the model of platform’s monetization is unclear. However, since the possibilities for the monetization are significant and fog computing platform may continue operation without the founding company existing, HeroNode doesn’t get a low mark in this category.

Business model score: Medium

Team:

The founder of HeroNode is a serial entrepreneur. The CMO served as branding director in Volkswagen, PPDF and Wheat Financial. The overseas Director of Business Strategy is a former research analyst at one of the largest investment banks in China. Lead data scientist has held positions at FaceBook and Airbnb.

The advisory board, however, is less impressive. It only contains three people, a legal counselor, founders of venture capital firms, legal counselor.

Team score: High

Competitors:

Fog computing industry is rather small now, but is expected to grow significantly in the next decade, according to a paper by Grand View Research. HeroNode is one of the first startups that enter the market, but others like SONM, FogCoin and Dadi.cloud are actively competing against it. Judging from the information presented by HeroNode, it doesn’t have a decisive edge on its few competitors.

Competitors score: Medium

Overall thoughts:

HeroNode has a strong team and a couple good ideas up their sleeve. With other companies already flooding the industry, this ICO project will have to work well to acquire a significant user base. Investing in HNC is not the safest choice, but not the worst one either.